Gaming Platforms Have Long Since Accepted Bitcoin - Here's How to Try Them

If the likes of Overstock, Newegg, and Microsoft launch consumer tech into the crypto scene, then for gaming, we have Humble Bundle. While the implementation was very limited, it rang the bells within the gaming industry. It showed that the growing inherent nature of online purchases for digital goods is becoming the perfect medium to launch cryptocurrency payment systems.

Today, Bitcoin adoption for gaming platforms is as big as ever. Even if not universal yet, the payment options are integrated quite well into the most popular platforms. As such, it is hardly ever a major subject nowadays. For the average tech-savvy gamer, all you need to do is follow the checkout menu until you get to click or tap the Bitcoin option.

The Model of Accepting Bitcoin in Gaming Platforms Today

Gaming platforms accepting Bitcoin for direct purchases are largely different from games that integrate cryptocurrencies directly into their systems or make it their development foundation using blockchain technology, such as Nine Chronicles and Galaxy Fight Club, but come in as somewhat obscure compared to the regular gaming industry. 

On the other hand, the catalog of online titles that support crypto payments as an "entry fee," those ones mostly being web browser-based pastime games, is more vast, although it's "just" using the blockchain technology to make payment.

And this is where the publishers of the mainstream console of PC games managed to implement the best of both worlds, where up front, we still have the traditional digital storefront for video games, where you can pay with FIAT currencies, but now with a simple addition to pay in Bitcoin. Think of it as a combined system of Newegg and Microsoft, where the purchases are direct transactions but in the form of entertainment software.

Generally, Bitcoin transactions are much easier for PC games, since there is no strict need for additional systems in check as opposed to a modern gaming console. But, the types of services are still quite flexible, and if you really want to, there are other ways to buy Xbox, PlayStation, or even Nintendo games and services using Bitcoin.

Unpredictability as a Problem for Bitcoin Payment

Unlike physical goods and licensed software, gaming purchases can take the form of in-game assets, which can wildly change in value over time. When faced with the native volatility and regulatory issues of cryptocurrencies, this creates a bigger concern for users of whether gaming platforms can truly sustain the value of smaller transactions over long periods.

So, while it may not be an issue when purchasing the games themselves, other game-related items and services, such as character skins, enhancement items, and even DLCs, might be affected by Bitcoin’s seasonal volatility. There are price regulation systems to prevent a runaway fluctuation scenario, thankfully, although slight variations in price at regular intervals may still compromise the perceived stability of an in-game asset.

How to Pay With Bitcoin on Gaming Platforms?

Direct integration – also known as building from scratch. Having an in-house payment system helps directly manage purchases and confirm the authenticity of transaction issues. However, the hurdle of creating a brand new payment flow without any established system is already challenging on its own financially and time-wise. The store is also solely responsible for any troubles that its homebrew Bitcoin payment system might cause.

Wallet setup – users in these platforms can also opt for simply converting their traditional fiat currencies to crypto and then making the purchase. Third-party processors like BitPay specialize in these types of transactions, with most of the financial burdens and responsibilities taken off from the store itself.

Gift cards – lastly, entirely separate stores can offer gift cards usable in various gaming platforms and even official gaming console services, which are paid directly via Bitcoin. Technically viable for this list, even if the method is very indirect.

Platform 01: Gamestop (Traditional Video Game Store)

Gamestop is a very recent player in the crypto payment sphere, having considered integrating its crypto stocks into its regular business. In 2022, this traditional video game store rolled out its crypto wallet service, to facilitate Bitcoin payments and manage user NFTs. Despite that, after much deliberation, the company rolled back on its crypto projects, announcing in August 2023 that all of its crypto wallet services would no longer be usable by November 2023.

Method of Bitcoin payment: Gamestop patrons can avail of their Gamestop crypto wallet, accessible via the Chrome Web Store and iOS. You can then use the wallet to purchase items directly from them.

Service Summary:

• Crypto wallet creation

• Native purchase management integration

• Web browser-based navigation

Platform 02: Bitrefill (E-Commerce Specialty Store)

Bitrefill started as a platform that offers mobile phone top-up services using Bitcoin. Within the mobile device space, its services expanded gradually until its cryptocurrency payment systems eventually started to deal with game platform gift cards. Today, the platform has fully integrated its Bitcoin payment system as its central method of distributing entire game titles plus platform services (regardless of target hardware).

Method of Bitcoin payment: Depending on the game and service, you can either choose to directly transact with a crypto wallet, or simply purchase gift cards, to be used later with the gaming platform of your choice.

Service Summary: (Gaming-related only)

• Purchase Gift Cards using Bitcoin

• Purchase in-game currencies

• Purchase currencies for other digital services

Platform 03: Keys4Coins (Purely Game Software-Focused Distributor)

Unlike Bitrefill’s early history, Keys4Coins was established with the immediate goal of striking it rich with the burgeoning market of gaming platform crypto payment systems. The primary goal was to provide gamers with a way to purchase game keys and other digital content directly using their digital assets. For example, you can download a free version of a certain title, you can then purchase an authentic CD key from Keys4Coins to finalize your game ownership.

Method of Bitcoin payment: Pay with Bitcoin directly from its online store to either purchase authorization codes and keys for games, or gift cards for other traditional gaming platforms.

Service Summary:

• Purchase game keys for a wide array of game titles

• Purchase gift cards for other platforms like Steam and Epic Games

Platform 04: Steam (Popular Distributor, But Has Since Stopped Accepting Bitcoin)

Steam is unarguably one of the most popular gaming platforms for PC games. The platform started accepting Bitcoin in 2016 in an effort to broaden its international reach. Unfortunately, the option was eventually removed a year later (sounds familiar?). Gabe Newell, President of Valve, explains that it was mainly due to Bitcoin’s volatility, high amount of fraudulent transactions, and “a significant increase in fees to process Bitcoin transactions within its network.”

Method of Bitcoin payment (before removal): All transactions were previously handled by BitPay, which facilitates both the interface and the system where the crypto purchases are confirmed.

Service Summary (before removal):

• Purchase games directly with Bitcoin

• Purchase DLC with Bitcoin

• Purchase expansion packs with Bitcoin

• Purchase in-game bonus assets with Bitcoin

• Purchase lootbox currency with Bitcoin

Do Gaming Platforms Support Other Currencies?

Yes, they do! As a baseline competitive requirement nowadays, most gift card distribution-focused gaming platforms accept an ample variety of different cryptocurrencies. The actual list may vary, so always double-check beforehand But so long as the currency is relatively stable, you can most certainly expect it to be supported if Bitcoin is accepted.

For example, aside from Bitcoin, Keys4Coin accepts Bitcoin Cash, Ethereum, Monero, and Litecoin.